auction First auction, first success? Last Thursday concluded the first auction of the government’s Emissions Reduction Fund (ERF), the centrepiece of their Direct Action climate policy. It awarded 144 projects from 43 participants to deliver 47 million tonnes of carbon-equivalent abatement over a ten-year period at an average price of $13.95 (Clean Energy
auction theory Making the best of Direct Action - Part 3 Read Part 1 and Part 2. So far this series has examined the auction design of the Coalition’s Emissions Reduction Fund (ERF) and attempted to provide an alternative process to purchasing carbon abatement projects. Strategic behaviour has been highlighted as a primary risk to achieving low cost emission reductions
abatement Making the best of Direct Action - Part 2 Consultation with the Department of Treasury & Finance (DTF) and Centre for Market Design (CMD) was gratefully undertaken in research for this article, however any views, opinions and shortcomings are strictly those of the author and do not reflect either organisation or their personnel. Part 1 highlighted a few pertinent pitfalls
abatement Making the best of Direct Action - Part 1 Despite the overwhelming support among academics, business leaders and economists for an emissions trading scheme type approach to global warming, it appears “Australia has chosen”, and the reality is that come the new senate on 1 July 2014, the carbon tax will be repealed and replaced with the Coalition’s
career Intern Experience at the Department of Treasury and Finance Over the 2013-14 summer break, I interned in the Economic Policy group at the Victorian Department of Treasury and Finance (DTF). Over my three month encounter, I worked with a variety of people on projects mainly across the economic strategy, market design and resources and environment teams. As a passionate
congestion Lessons of congestion from the Goldman Sachs A recent Business Insider article detailed how the Goldman Sachs managed to solve the long tolerated issue of lunchtime cafeteria crowding (unrelated humour-plenty Goldman Sachs video). The analysts at the Goldman Sachs had identified that during the typical midday hunger-period of 11:30am to 1:30pm, the cafeteria was crowded,
desal ESC Water Pricing Decision This morning, Chairperson of the Essential Services Commission (ESC), Dr Ron Ben-David, announced the ESC’s draft outcome for Melbourne’s water pricing for the next five years. An extensive 6-month investigation taking into account both the financial requirements of Melbourne’s water wholesaler and retailers, as well as the
economics So what is economics? One afternoon, I asked a friend what she was studying. She answered art history, and without much more, I felt like I had a pretty good idea of what her studies entailed. Being the polite friend she is and was, she reciprocated the question back to me, and in order
